Live cattle futures were 7 to 65 cents higher on Tuesday, with June down a nickel on Tuesday. Open interest was up 1,302 contracts on Tuesday. Cash trade from last week settled in at $235-236 sales in the North and $235 in the South. It has yet to get kicked off this week. Feeder cattle futures posted $1.85 to $2.35 gains on Tuesday. The CME Feeder Cattle Index was back up 26 cents to $361.59 on March 23. The weekly OKC feeder cattle auction had an 5,370 head sold, with steers steady on the feeders and up $5-15 for calves. Heifers were firm to $5 higher.
The Tuesday APHIS update on new world screwworm showed 33 active cases in the bordering Mexican state of Tamaulipas,
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread at $5.41 Choice boxes were up 78 cents to $399.91, while Select was 67 cents higher to $394.50. USDA estimated federally inspected cattle slaughter on Tuesday at 107,000 head, with the weekly total at 212,000 head. That was up 9,000 head from last week but 31,286 head below the same week last year.
Apr 26 Live Cattle closed at $235.375, up $0.075,
Jun 26 Live Cattle closed at $234.600, down $0.050,
Aug 26 Live Cattle closed at $232.100, up $0.350,
Mar 26 Feeder Cattle closed at $360.300, up $1.850,
Apr 26 Feeder Cattle closed at $354.450, up $1.975,
May 26 Feeder Cattle closed at $350.700, up $2.350,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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